STMicroelectronics (NYSE:STM) Rating Lowered to “Hold” at Zacks Research

STMicroelectronics (NYSE:STM) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on STM. Morgan Stanley restated an “overweight” rating on shares of STMicroelectronics in a research note on Tuesday, June 30th. TD Cowen reiterated a “hold” rating on shares of STMicroelectronics in a research report on Monday, July 13th. Weiss Ratings raised STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Robert W. Baird set a $90.00 price target on shares of STMicroelectronics in a report on Friday, April 24th. Finally, Barclays set a $60.00 price target on shares of STMicroelectronics in a research note on Friday, July 24th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.65.

STMicroelectronics Stock Up 3.9%

Shares of STMicroelectronics stock opened at $54.20 on Monday. STMicroelectronics has a 1-year low of $21.11 and a 1-year high of $81.42. The business has a 50-day moving average of $68.24 and a 200-day moving average of $49.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.78 and a quick ratio of 2.08. The company has a market capitalization of $48.68 billion, a PE ratio of 106.28 and a beta of 1.95.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Friday, July 24th. The semiconductor producer reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The company had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.46 billion. STMicroelectronics had a net margin of 3.56% and a return on equity of 4.30%. As a group, equities analysts forecast that STMicroelectronics will post 1.3 EPS for the current fiscal year.

Institutional Investors Weigh In On STMicroelectronics

Several large investors have recently modified their holdings of the stock. CIBC Private Wealth Group LLC grew its holdings in shares of STMicroelectronics by 3,746.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock worth $26,000 after acquiring an additional 974 shares during the last quarter. Portus Wealth Advisors LLC purchased a new stake in shares of STMicroelectronics during the first quarter valued at $32,000. Public Employees Retirement System of Ohio purchased a new stake in shares of STMicroelectronics during the first quarter valued at $45,000. Advisory Services Network LLC acquired a new position in shares of STMicroelectronics in the 3rd quarter valued at $52,000. Finally, Brown Brothers Harriman & Co. increased its stake in STMicroelectronics by 350.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,680 shares of the semiconductor producer’s stock worth $70,000 after purchasing an additional 2,085 shares in the last quarter. 5.05% of the stock is owned by institutional investors.

About STMicroelectronics

STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST’s offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.

Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.